Nigeria achieved a trade surplus of N1.71 trillion in the fourth quarter of 2025, a figure that underscores the nation's ability to maintain a positive trade balance even as export revenues saw a decline during the period. This performance follows a more substantial trade surplus of N6.691 trillion recorded in the third quarter of 2025, indicating a slowdown in export activity.

Data from the National Bureau of Statistics (NBS) Q4 2025 Foreign Trade Report reveals that Nigeria's total merchandise trade amounted to N36.21 trillion. This figure represents a slight decrease compared to N36.60 trillion in Q4 2024 and a more noticeable drop from N39.77 trillion in Q3 2025.

Exports accounted for 52.36% of Nigeria’s total trade in Q4 2025, with a total value of N18.96 trillion. Despite the reduction in export earnings, the country's trade surplus was sustained because the value of its exports continued to exceed its spending on imports.

The report also highlights Nigeria’s persistent reliance on imported food items and industrial raw materials. The nation's trade balance remains significantly influenced by crude oil exports, which are the primary driver of the country's foreign exchange earnings. The ongoing decline in crude oil earnings continued to exert pressure on Nigeria’s overall trade performance, even with positive contributions from other economic sectors.

During Q4 2025, Nigeria’s top export destinations included the Netherlands, India, Spain, France, and Canada. Earlier in the year, Nairametrics reported that Nigeria’s total merchandise trade had reached N38.9 trillion in the third quarter of 2025.